Caterpillar Inc. $CAT Holdings Trimmed by Amalgamated Bank

Amalgamated Bank lowered its position in shares of Caterpillar Inc. (NYSE:CAT) by 5.4% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 93,396 shares of the industrial products company’s stock after selling 5,335 shares during the period. Amalgamated Bank’s holdings in Caterpillar were worth $36,257,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mid American Wealth Advisory Group Inc. acquired a new position in shares of Caterpillar in the 2nd quarter valued at $28,000. Compass Financial Services Inc boosted its position in shares of Caterpillar by 49.2% in the 1st quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 31 shares during the period. Family Legacy Financial Solutions LLC acquired a new position in shares of Caterpillar in the 2nd quarter valued at $32,000. Redmont Wealth Advisors LLC acquired a new position in shares of Caterpillar in the 1st quarter valued at $33,000. Finally, Harbor Asset Planning Inc. acquired a new position in shares of Caterpillar in the 2nd quarter valued at $34,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on CAT. Sanford C. Bernstein increased their price objective on Caterpillar from $447.00 to $502.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 14th. Robert W. Baird increased their price objective on Caterpillar from $540.00 to $612.00 in a research note on Monday, October 20th. Oppenheimer increased their price objective on Caterpillar from $480.00 to $513.00 and gave the stock an “outperform” rating in a research note on Monday, September 29th. Melius raised Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 price target for the company in a research note on Wednesday, July 9th. Finally, DA Davidson raised their price target on Caterpillar from $331.00 to $388.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 22nd. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $518.19.

Caterpillar Stock Up 11.9%

Shares of CAT stock opened at $586.77 on Thursday. The stock’s 50 day simple moving average is $472.25 and its 200 day simple moving average is $405.20. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.81 and a current ratio of 1.34. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $596.21. The company has a market capitalization of $274.89 billion, a price-to-earnings ratio of 29.85, a PEG ratio of 2.99 and a beta of 1.46.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Wednesday, October 29th. The industrial products company reported $4.95 earnings per share for the quarter, beating analysts’ consensus estimates of $4.52 by $0.43. Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The business had revenue of $17.64 billion for the quarter, compared to the consensus estimate of $16.72 billion. During the same period last year, the business earned $5.17 EPS. The firm’s revenue was up 9.5% compared to the same quarter last year. As a group, research analysts predict that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Monday, October 20th will be paid a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Monday, October 20th. Caterpillar’s dividend payout ratio (DPR) is presently 30.72%.

Insider Activity at Caterpillar

In related news, insider Jason Kaiser sold 2,161 shares of the firm’s stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $417.70, for a total value of $902,649.70. Following the transaction, the insider directly owned 8,632 shares of the company’s stock, valued at approximately $3,605,586.40. This trade represents a 20.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Susan C. Schwab sold 2,324 shares of the firm’s stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $410.00, for a total value of $952,840.00. Following the completion of the sale, the director directly owned 6,917 shares in the company, valued at $2,835,970. This trade represents a 25.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 55,985 shares of company stock valued at $25,559,300. Corporate insiders own 0.33% of the company’s stock.

Caterpillar Profile

Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.